goat

goat

Courtesy of Upfront Ventures

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After emerging as one of Los Angeles’ most well-funded and talked-about startups last year, online sneaker and apparel marketplace GOAT now has its sights set abroad.

Speaking at the Upfront Summit venture capital conference on Wednesday, GOAT Group chief operating officer Yunah Lee said international expansion is now the priority for the Culver City-based startup. GOAT opened offices in mainland China last year—its headcount there has already quadrupled, she noted—and also recently cut the ribbon on offices in Singapore and Japan.

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Illustration by Ian Hurley

In Los Angeles—like the startup environment at large—venture funding and valuations skyrocketed in 2021, even as the coronavirus pandemic continued to surge and supply chain issues rattled the economy. The result was a startup ecosystem that continued to build on its momentum, with no shortage of companies raising private capital at billion-dollar-plus unicorn valuations.

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Image by Markus Mainka/ Shutterstock

Ecommerce companies are some of Los Angeles hottest startups.

Companies like GOAT, an online marketplace for sneakerheads, are reeling in cash in a white-hot market. GOAT raised $195 million in a late-stage funding round in June, more than doubling its valuation to $3.7 billion. Tapcart, a Shopify-based mobile app, raised $50 million in a Series B funding round also in June. Popshop Live, a livestream shopping platform, announced a Series A round of funding in July that valued the company at $100 million. Italic, an online retailer that sells luxury goods at cost, had a $26.9 million infusion of cash through an early stage funding round in April.

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